Skip to Content


SENATE DOCKET, NO. 1507         FILED ON: 1/18/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1259

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Richard T. Moore

_______________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to cost of living adjustments.

_______________

PETITION OF:

 

Name:

District/Address:

Richard T. Moore

Worcester and Norfolk

John V. Fernandes

10th Worcester

Michael R. Knapik

Second Hampden and Hampshire


SENATE DOCKET, NO. 1507        FILED ON: 1/18/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1259

By Mr. Richard T. Moore, a petition (accompanied by bill, Senate, No. 1259) of Richard T. Moore, John V. Fernandes and Michael R. Knapik for legislation relative to cost of living adjustments.  Public Service. 


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act relative to cost of living adjustments.
 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              SECTION 1. Paragraph (c) of section 102 of chapter 32 of the General Laws, as amended by chapter 176 of the acts of 2011, is amended by striking out the dollar amount “$13,000”, as appearing therein, and inserting in place thereof the following dollar amount: - $16,000.

              SECTION 2. Subdivision (3) of section 21 of said chapter 32, as appearing in the 2010 Official Edition, is amended by inserting the following paragraph:-

              “(h) the preparation and filing with the general court, of a report, annually, in the month of March, on the rate of return on investments by the pension reserves investment management board during the last previous year and the assumed rate of return on investments by said board during the two years prior to the last previous year, including a statement whether the return during the last previous year exceeds, by two percent, the average of the assumed rate during the two years prior thereto.”

              SECTION 3. Paragraph (c) of section 102 of said chapter 32, as amended by chapter 176 of the acts of 2011, is amended by inserting after dollar amount: - $13,000, as appearing therein, the following words:- “or such higher dollar amount as determined pursuant to said paragraph (h).”

              SECTION 4. Section 102 of said chapter 32, as amended by chapter 176 of the acts of 2011, is amended by inserting at the end thereof the following subsection: -

              “(h) The actuary of the commission shall annually in the month of March file with the clerk of the house of representatives the report prepared in accordance with paragraph (h) of subdivision (3) of section 21. The general court shall thereafter determine if the report allows for an increase in the dollar amount set forth in said paragraph (c) and if so, establish the higher dollar amount to be set forth in said paragraph (c).”

              SECTION 5.  Section 1 of this act shall take effect for cost of living adjustments to be made, in accordance with the provisions of section 102 of said chapter 32, commencing July 1, 2014.

              SECTION 6.  Sections 2, 3 and 4 of this act shall take effect on January 1, 2015.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Error